OSLO Nov 7 Norwegian bank DNB will
reconsider its participation in the financing of the North
Dakota oil pipeline if concerns raised by Native American tribes
against its construction are not addressed, it said late on
Local authorities and protesters have been clashing over
Energy Transfer Partner's $3.8 billion Dakota Access
pipeline project, which would offer the fastest and most direct
route to bring shale oil from North Dakota to Illinois.
Native American tribes contend that the pipeline would
disturb sacred land and pollute waterways supplying nearby
"DNB looks with worry at how the situation around the
pipeline in North Dakota has developed. The bank will therefore
take initiative and use its position to bring about a more
constructive process to find a solution to the conflict,"
Norway's largest bank said in a statement.
"If these initiatives do not give appeasing answers and
results, DNB will consider its further involvement in the
financing of the project."
The bank did not say in its statement how much financing it
is contributing to the project. Norwegian daily Aftenposten
reported the bank is responsible for some 2.8 billion crowns
($342.36 million) in loans to build the pipeline, or close to 10
percent of the cost of the project.
($1 = 8.1785 Norwegian crowns)
(Reporting by Gwladys Fouche, editing by Louise Heavens)